Is Winter Coming to the EU?

BERLIN – A popular narrative holds that the European Parliament elections in May will be “Act Three” in the populist drama that began in 2016 with the United Kingdom’s Brexit referendum and US President Donald Trump’s election. We are told to expect a grand showdown between the forces of “open” and “closed” societies, in which the future of the European Union is at stake. It all sounds very plausible. It also happens to be completely wrong.

Capitalism’s Great Reckoning nuvolanevicata/Getty Images

Capitalism’s Great Reckoning

Apr 19, 2019 James K. Galbraith reviews books by three leading observers assessing the lamentable state of modern political economy.

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Brexit Fever is Breaking Artur Widak/NurPhoto via Getty Images

Brexit Fever is Breaking

Mar 28, 2019 Anatole Kaletsky welcomes the extension of the March 29th deadline, because it will be followed by a much longer one.

Brexit and Trump’s election led many political analysts to conclude that European voters, too, would abandon mainstream parties for new identity-based tribes. Yet, in America, the political and regional divides are so entrenched as to affect where one works, who one marries, and how one views the world. And in the UK, similar rifts have long been........